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A leading contender to become President Trump’s next Federal Reserve chair said the administration expects larger tax refunds and higher take-home pay next year, as many Americans continue to express concerns about affordability. “We are going to see the biggest refund cycle ever in the history of America, and people are going to get massive […]
The IRS has now published updated confirmation that the casino slot jackpot tax is to be almost doubled in 2026. An X post by Vital Vegas stated: “Sources say the IRS will officially confirm the reporting threshold for slot jackpots increases from $1,200 to $2,000 starting Jan 1. Now, mad dash for casinos to implement […]
The IRS has released its guidance for the “no tax on tips” and “no tax on overtime” provisions of the One Big Beautiful Bill Act (OBBBA), for workers who can claim the deductions for the 2025 tax year. President Donald Trump signed the OBBBA into law in July after Republican majorities in Congress passed the tax reform and spending […]
An Obamacare sign is displayed outside an insurance agency on Nov. 12, 2025 in Miami, Florida. Joe Raedle | Getty Images With enhanced Obamacare tax credits set to expire at the end of the year, Republicans are proposing new alternatives aimed at lowering the cost of health care. Their window for doing so is rapidly […]
The fractious and polarized nature of the UK gambling tax hike debate is well publicized, with the ruling Labour government’s plans supported by think-tanks and reform campaigners, in contrast to the defensive position taken by the gambling industry. However, the multi-faceted situation can be viewed through a different lens, with Northern Ireland and Gibraltar on […]
The CEO of the UK’s Betting and Gaming Council has outlined a warning that £8.4 billion ($11.1 billion) in bets could go to the black market if the proposed tax hike goes ahead. On the heels of its warning about the potential impact on jobs at the end of last month, the CEO of the […]
The UK government is preparing a sweeping overhaul of gambling taxes in its Autumn Budget 2025, which could shake up one of the country’s most profitable yet controversial industries. Chancellor Rachael Reeves has been steadily increasing pressure on gambling operators, with reports from the Office for Budget Responsibility suggesting the new measures could raise around […]
The British Horseracing Authority (BHA) has been in conversation with UK government officials in an attempt to dissuade incoming tax reform. In a statement that endorses the BHA “#AxeTheTax” promotional campaign, which aims to battle the proposed tax levies that would mirror online betting taxes, the sporting body is continuing a dialogue with government ministers […]
Taylor Swift attends the 67th GRAMMY Awards on February 02, 2025 in Los Angeles, California. Frazer Harrison | Getty Images Entertainment | Getty Images A version of this article appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. […]
A view of the US Capitol in Washington, DC, on June 30, 2025. Jim Watson | Afp | Getty Images The wealthy will likely see a host of new tax breaks in President Donald Trump’s “big beautiful bill,” along with permanent extensions of many of the 2017 tax cuts, according to tax experts. Taxpayers earning […]
